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HNIs incur losses as Glenmark Life Sciences ends flat on listing day

Market observers said HNIs had placed leveraged bets, and lost big as their break even cost was more than Rs 850 per share

V S Mani, ED and Global CFO, Glenmark Pharmaceuticals along with Bhavesh Pujara, CFO, Glenmark Life Sciences and Ashish Chauhan, MD & CEO, BSE India ringing the opening bell to mark the listing of Glenmark Life Sciences Ltd
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V S Mani, ED and Global CFO, Glenmark Pharmaceuticals along with Bhavesh Pujara, CFO, Glenmark Life Sciences and Ashish Chauhan, MD & CEO, BSE India ringing the opening bell to mark the listing of Glenmark Life Sciences Ltd

Sundar Sethuraman Mumbai
Shares of Glenmark Life Sciences ended with a gain of less than 4 per cent during their stock market debut on Friday. The subsidiary of Glenmark Pharmaceuticals saw its stock price end at Rs 746 crore, up Rs 26, or 3.6 per cent over the issue price of Rs 720 per share on the NSE, where Rs 1,545 crore worth of shares changed hands. The stock hit a high of Rs 799 and a low of Rs 738 in intra-day trade.

The first-day performance was muted compared to previous four listings, which had gained between 65 per cent and 113

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